Republic Services, Inc. (NYSE:RSG) Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd increased its position in shares of Republic Services, Inc. (NYSE:RSG) by 58.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,335 shares of the business services provider’s stock after buying an additional 1,235 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Republic Services were worth $671,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in shares of Republic Services in the 4th quarter valued at $151,000. ICW Investment Advisors LLC grew its position in Republic Services by 3.4% during the 4th quarter. ICW Investment Advisors LLC now owns 7,644 shares of the business services provider’s stock worth $1,538,000 after purchasing an additional 249 shares during the last quarter. Corebridge Financial Inc. increased its stake in Republic Services by 8.2% in the fourth quarter. Corebridge Financial Inc. now owns 64,961 shares of the business services provider’s stock valued at $13,069,000 after purchasing an additional 4,941 shares during the period. Vanguard Group Inc. boosted its stake in shares of Republic Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after buying an additional 144,719 shares during the period. Finally, Meridian Wealth Advisors LLC grew its holdings in shares of Republic Services by 8.5% during the fourth quarter. Meridian Wealth Advisors LLC now owns 2,578 shares of the business services provider’s stock worth $519,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

Insider Activity at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RSG shares. Stifel Nicolaus increased their price objective on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. UBS Group upped their price objective on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $211.00 to $238.00 in a report on Friday, December 6th. The Goldman Sachs Group boosted their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, CIBC upgraded shares of Republic Services from a “neutral” rating to a “sector outperform” rating and set a $264.00 price target for the company in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Trading Up 1.2 %

Shares of RSG stock opened at $236.16 on Tuesday. The company has a market capitalization of $73.75 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.64 and a beta of 0.73. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $225.49 and a 200 day moving average price of $212.92. Republic Services, Inc. has a twelve month low of $180.92 and a twelve month high of $240.95.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Research analysts forecast that Republic Services, Inc. will post 6.86 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, April 2nd. Republic Services’s dividend payout ratio is currently 35.75%.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.